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  #1  
Old 11-10-2011, 10:55 AM
Drew Drew is offline
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Location: Georgia, US
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Default Starting a Business

My girlfriend is thinking about starting a wedding planning business, and I offered to help her out as much as I can getting started - as far as the business aspect goes. I'm no business expert, but I have some basic business knowledge. I'm a senior business major with a focus in economics and planning to start working on an MBA next fall. She doesn't have much business background, she was an assistant director at a daycare and she didn't go to college. She is smart and a quick learner though, had a 4.0 in high school.

With that said I have a couple questions:
I'm thinking she would want to set it up as either an S-Corp or LLC, but I'm not sure which one? I know there are a lot of variables to consider, but any advice would be helpful.

Any other advice for starting a business? I could be wrong, but I think this is something she could start without much capital. Another concern is whether she could do this part time while working her current job 40 hrs/wk. I have no doubt she could handle it, and could take calls before and after work and at lunch, and take care of most stuff on the weekends. I know this is very generic, and she's just now starting reading and researching about it. I just wanted to hear some input from some of you guys regarding the business/financial aspect.
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  #2  
Old 11-22-2012, 03:52 AM
allianceonellc allianceonellc is offline
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Default Re: Starting a Business

In this climate of economy, its not that easy to start up a new business if you don't have adequate finance. Hence, make sure that you have a perfect business plan as well as have sources of funding to start up your business for better growth and profits.
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  #3  
Old 12-03-2012, 12:46 AM
mkenneth mkenneth is offline
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Default Re: Starting a Business

Its a good idea, but before starting a new business you have to first start a planning and then the investment.
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  #4  
Old 12-06-2012, 11:02 AM
AlbertDisuza11 AlbertDisuza11 is offline
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Location: Costa Mesa, CA
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Default Re: Starting a Business

I agree with all the posters above, without understanding or having experience of all the aspects of starting and managing a business please do not take the plunge. If you do so it will not only be a waste of your time but also your hard earned money.
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Old 12-28-2012, 11:10 AM
saltlakecityacc saltlakecityacc is offline
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Default Re: Starting a Business

stating a New Business some rules and regulations follow
First register company and also create websites and create fan page that websites and also daily update
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Old 01-02-2013, 10:32 AM
Thoram Thoram is offline
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Default Re: Starting a Business

I think it would be nice and suitable for her to set up as a LLC, as there will be limited liability for the business, and she will have less liabilities to pay of in case solvency of the business. And she could also carry on her regular job with the business, if she really think that, she could manage.
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Old 01-02-2013, 04:34 PM
SMLR SMLR is offline
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Default Re: Starting a Business

First, if you live in America and you have a job and you pay Taxes.....then you should start/own a business. So she is on the right path.

I would suggest the following as she gets her feet wet. Have her write out her goals, help her develop "her business plan" around the goals that she has set.
Kim Mills stated very good advice:
"Well before starting our business have a business plan ready. Make a good business plan and get it evaluated by experts in business or some financial planners who will guide you correctly with the pros and cons of start ups and how to go about doing business for the first time, in this economy. If one has it in them to be a good entrepreneur it is never difficult. Also do not get demotivated. Start off with basic minimum investment and at a small scale but have your plan in place. Expand slowly and do not risk much.

Also saltlakecityacc's advice:
First register company and also create websites and create fan page that websites and also daily update
His advice is the best beginning in my opinion. 1.Have her "Brand Herself" with a domain name (have her do due diligence researching a name to "brand" her business). 2. PM me and I will provide you (her) with server space (hosting) and set up her WordPress site at "no cost". (WordPress allows her to blog and create passive income while she builds her reputation and brand. 3. Begin setting up FaceBook, Pinterest, Linkdin, accounts for branding. 4. Use Craigslist to advertise her services.

Again, this is starting small, earning and growing.
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  #8  
Old 01-02-2013, 09:07 PM
SMLR SMLR is offline
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Default Re: Starting a Business

Drew I just found this.....

Wedding and Event Planning Certification Course

This 40-hour, hands-on certification program offered in partnership with Lovegevity Wedding Planning Institute covers everything a wedding/event planner needs from start to finish.
Topics include:
  • Budgets
  • Vendor relationships
  • Contracts
  • Revenue channels
  • Wedding trends
  • Bridal fashion
  • Color themes
  • Signature wedding design
To address the demands of the industry, this course includes role playing, vignettes, and other ways to practice for actual business objectives or work settings in the day-to-day of wedding/event planning. This curriculum is developed utilizing a dynamic, interactive teaching method, focused on clear concepts and principals derived from research-based theories of adult learning. After successfully completing this course you will be proficient in business organization, logistics, networking, and client relationship management skills. As an SPC/LWPI graduate, you will have the option to participate in a customized internship that meets your career objectives, start your own wedding and event planning business, or join an existing company. This certification is recognized internationally by wedding industry associations.


spcollege.edu/ct/images/stpetersburglwpisummerflyer2010.pdf
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  #9  
Old 01-02-2013, 11:18 PM
st jacob st jacob is offline
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Default Re: Starting a Business

Its such a freat idea. Mariage planning business is becoming a very popular now a days. Every couple wants to hire best wedding planner. And you should go with LLC. For more information you can visit my site below,
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  #10  
Old 01-10-2013, 11:28 AM
saltlakecityacc saltlakecityacc is offline
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Default Re: Starting a Business

Now days more number of business consultant available.so refer that consultant share your ideas and promote your business
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  #11  
Old 01-26-2013, 02:09 AM
fsna.hartley fsna.hartley is offline
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Default Re: Starting a Business

It's never too late to start a business. You need funds and knowledge to do it and of course perseverance to make it work. If she can handle her work, the business and her personal life then she's good to go. Regarding funds, there are a lot who can be a source. She can look for seminars regarding wedding or event planning to get started. Good luck!
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  #12  
Old 03-17-2013, 06:21 PM
Kimmy Burgess Kimmy Burgess is offline
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Location: california
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Default Re: Starting a Business

S-corp have quite low rate of tax as compare to LLC because unlike LLC, taxes are implied on S-Corp shareholder who is an employee. In LLC, employment tax is implied on the entire net income of the business. Plus, S-corp have independent life from shareholders, so i'll prefer S-corp.
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  #13  
Old 03-18-2013, 08:45 AM
AlbertDisuza11 AlbertDisuza11 is offline
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Location: Costa Mesa, CA
Posts: 35
Default Re: Starting a Business

Though planning, taking financial decision and marketing strategies are important, research enough to know more about your target market and your potential customers. There are a number of available programs to assist start-ups, micro businesses, and undeserved or disadvantaged groups. Follow sba.gov and read their posts to now more about it.
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  #14  
Old 04-08-2013, 02:34 AM
BizSol08 BizSol08 is offline
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Default Re: Starting a Business

Hey Drew,

First off, kudos to your girlfriend for wanting to start her own business. It can be tough at first, but being your own boss and doing what you love definitely pays off in the long run. The stuff you learn in school will definitely help her, but in my experience, being determined and dedicated is what it really takes to make a successful business.

When I started my food truck business, one of my biggest concerns was offering wireless services for my customers. Luckily, I found PayMeSecure for that. I also thought a lot about other ways to use technology to attract and keep customers. Building a website was a big turning point for my business, and I suggest your girlfriend start working on that as soon as possible. People can read my menus online, find my routes, post reviews and even order meals in advance, all from the website. It's really become a huge part of my business.

Good luck to you both!
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  #15  
Old 04-11-2013, 09:04 AM
simonclay111 simonclay111 is offline
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Default Re: Starting a Business

Starting a business is not a bad thing at all. In-fact i would say she would have planned something that's why she has taken this step to start her own business. Besides all the technical facts the most important thing is to keep your business successful is your hope.

Apart from these things you must need to have a proper back up for your business. Investment plan should be bang on target.

Regards,
Miceli Financial Partners Wealth Management & Insurance Services
101 Metro Drive, Suite 550,
San Jose, CA - 95110
(408) 286-4010
visit - micelifinancialpartners.com/
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